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2023 (11) TMI 944 - HC - Income TaxAssessment u/s 153A - Difference in scope of proceedings for abated assessment and for a completed assessment - Jurisdiction u/s 153A to make additions in case of completed assessment if no incriminating material found during search - unexplained share application money received in the books of the assessee and being unexplained share money received had been added back to the returned income of the assessee - HELD THAT:- Keeping in view the fact that no incriminating material had been found during the search, the Revenue had been precluded from considering any other material derived from any other source. See Abhisar Buildwell P. Ltd [2023 (4) TMI 1056 - SUPREME COURT] as held if no assessment proceeding is pending on the date of initiation of the search, the AO may consider only the incriminating material found during the search and is precluded from considering any other material derived from any other source. As decided in Kabul Chawla case [2015 (9) TMI 80 - DELHI HIGH COURT] no addition can be made in respect of completed assessment in absence of any incriminating material Assessing Officer gets jurisdiction to assess or re-assess the total income in respect of each assessment year falling within six assessment years. As per the proviso’s, if any assessment or re-assessment is pending on the date of initiation of the search for making requisition under Section 132A of the Act, as the case may be, shall abate. It was thus held that the intention of the legislature was that in the case of a search, only the pending assessment/ re-assessment proceedings shall abate and the Assessing Officer could assess or re-assess for the entire set of 6 years for the period/block assessment period until any incriminating material was found. The intention could not be given to reopen the completed unabated assessment. Thus we are of the considered opinion that no question of law arises in the present set of appeals in view of the fact that the same has been settled by the Apex Court and a factual finding was recorded which has not been rebutted by counsel for the appellant. ITAT was right in holding that no addition can be made u/s 153A in respect of completed assessment if no incriminating material is found during search.
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